Legal & General Group Plc acquired a new position in shares of IonQ, Inc. (NYSE:IONQ - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,541,983 shares of the company's stock, valued at approximately $82,126,000. Legal & General Group Plc owned about 0.41% of IonQ at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of IonQ by 18.5% in the fourth quarter. Vanguard Group Inc. now owns 34,774,743 shares of the company's stock valued at $1,560,343,000 after acquiring an additional 5,420,037 shares during the last quarter. BlackRock Inc. acquired a new position in IonQ during the second quarter valued at approximately $1,112,945,000. State Street Corp boosted its position in IonQ by 42.3% during the fourth quarter. State Street Corp now owns 8,962,789 shares of the company's stock valued at $402,160,000 after purchasing an additional 2,663,230 shares during the last quarter. Geode Capital Management LLC grew its stake in IonQ by 21.9% in the fourth quarter. Geode Capital Management LLC now owns 8,074,301 shares of the company's stock valued at $361,624,000 after purchasing an additional 1,452,463 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of IonQ during the 4th quarter worth approximately $199,753,000. Institutional investors own 41.42% of the company's stock.
Insider Buying and Selling
In other IonQ news, Director Kathryn K. Chou sold 2,757 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $55.02, for a total value of $151,690.14. Following the transaction, the director directly owned 62,608 shares of the company's stock, valued at $3,444,692.16. This represents a 4.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John W. Raymond sold 3,815 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $55.01, for a total transaction of $209,863.15. Following the completion of the transaction, the insider directly owned 80,148 shares in the company, valued at approximately $4,408,941.48. This represents a 4.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 9,329 shares of company stock valued at $513,216. Company insiders own 0.55% of the company's stock.
Key Stories Impacting IonQ
Here are the key news stories impacting IonQ this week:
- Positive Sentiment: IonQ reportedly generated approximately $80 million in quarterly revenue and then agreed to spend $1.8 billion to acquire the largest exclusively U.S.-owned chip foundry. The transaction could make IonQ the first vertically integrated quantum-computing company, giving it greater control over chip production and potentially accelerating commercialization. IonQ posted $80 million and acquired a U.S. chip foundry
- Positive Sentiment: IonQ appointed finance and semiconductor-industry veterans Eric Ball and Timothy Baxter to its board. Their capital-markets, mergers-and-acquisitions, chip-industry, and commercialization experience could help IonQ finance and integrate its foundry strategy. New capital markets and chip leaders join IonQ’s board
- Positive Sentiment: IonQ benefited from renewed investor interest in quantum stocks after Infleqtion received a $20 million follow-on NASA contract. The award provides additional evidence of government demand for quantum-technology applications and helped lift sentiment across the sector. Infleqtion receives a NASA quantum contract
- Positive Sentiment: IonQ reached 84 Skyloom optical terminals in orbit, highlighting progress in quantum networking and space-based communications capabilities. IonQ reaches 84 Skyloom optical terminals in orbit
- Neutral Sentiment: Directors Timothy Baxter and Eric Ball each received 5,540 restricted stock units. The awards increase their holdings but were not open-market purchases, making them a limited signal of insider confidence. IonQ insider filings show restricted stock awards
- Neutral Sentiment: Analysts continue to characterize IonQ as a buy, while articles highlight potential long-term demand from post-quantum cybersecurity spending. These themes support the growth story but do not represent new contracts or near-term earnings improvements. Wall Street analysts see IonQ as a buy
- Negative Sentiment: IonQ remains unprofitable, and the $1.8 billion foundry acquisition creates substantial execution, financing, and integration risks. The company’s longer-term opportunity is significant, but investors must weigh it against continued losses and distant profitability.
IonQ Price Performance
Shares of IonQ stock opened at $42.42 on Friday. The business has a fifty day simple moving average of $43.10 and a two-hundred day simple moving average of $43.39. IonQ, Inc. has a 1 year low of $25.89 and a 1 year high of $84.64. The company has a market capitalization of $16.16 billion, a price-to-earnings ratio of -9.10 and a beta of 3.28.
IonQ (NYSE:IONQ - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.33) EPS for the quarter, beating the consensus estimate of ($0.56) by $0.23. The firm had revenue of $80.05 million for the quarter, compared to the consensus estimate of $66.47 million. IonQ had a negative net margin of 553.27% and a negative return on equity of 22.29%. The company's quarterly revenue was up 286.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.70) earnings per share. As a group, equities analysts anticipate that IonQ, Inc. will post -2.86 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on IONQ shares. Cantor Fitzgerald reiterated an "overweight" rating and set a $70.00 price objective on shares of IonQ in a research note on Thursday, August 6th. Benchmark restated a "buy" rating and set a $60.00 target price on shares of IonQ in a report on Thursday, August 6th. Wedbush began coverage on shares of IonQ in a research report on Monday, August 3rd. They set an "outperform" rating and a $75.00 price target on the stock. Wall Street Zen cut shares of IonQ from a "sell" rating to a "strong sell" rating in a research note on Saturday, August 8th. Finally, Morgan Stanley set a $49.00 price objective on shares of IonQ in a research report on Thursday, August 6th. Nine research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $69.92.
View Our Latest Stock Analysis on IonQ
IonQ Profile
(
Free Report)
IonQ, Inc engages in the development of general-purpose quantum computing systems in the United States. It sells access to quantum computers of various qubit capacities. The company makes access to its quantum computers through cloud platforms, such as Amazon Web Services (AWS) Amazon Braket, Microsoft's Azure Quantum, and Google's Cloud Marketplace, as well as through its cloud service. It also provides contracts associated with the design, development, and construction of specialized quantum computing hardware systems; maintenance and support services; and consulting services related to co-developing algorithms on quantum computing systems.
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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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